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Another part of the clause states that clubs won’t be rrn a position to owe money to rivals, players, staff or tax authorities at the end within the season. They’re hoping to avoid what happened at Portsmouth who went into administration owing millions in transfer fees, tax and VAT to name some. I think I read somewhere yesterday that they had offered to repay their creditors 20% with the items they owed them. A report on European clubs said that 50% analysts where creating a loss this 20% wherein serious financial danger.
The next major media event have also been connected with Sify. On November 28, 1999 the CEO of Satyam Infoway requested me to get to Mumbai to address an important announcement. Yet not supply the details over the phone. The next morning I went completely the Mumbai airport towards office of DSP Merrill Lynch. There the investment bank gave a brief about the Indiaworld conduct business. Merrill had alerted the media about a press meet that evening without revealing the study. I soon started getting calls from reporters desiring to know information. I could not reveal almost anything to them though I felt a bit guilty not being straight forward with a variety the reporters who became good personal friends by then.
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